Spanish airlines, Iberia, recently announced it would stop flight services from Madrid to Athens this month as part of a restructuring plan.
According to a statement, the Madrid-Athens route was among the five that “have racked up the biggest losses” for the airline.
Iberia is canceling routes to Athens, Cairo and Istanbul on 15 January 2013. Flights to Santo Domingo and Havana will stop as of as of 1April 2013.
By stopping flights operations on these routes, the airline wants to offset the mounting losses as well as cut costs to gain profitability.
The airline will focus on destinations such as London, Dakar in Senegal, Guinea, Brazil, Mexico, Miami and Chile.
The chief executive of Iberia, Rafael Sanchez-Lozano, said the airline had decided to stop flights only on routes that had shown the greatest losses with no chance of profitability in the short term.
However, the possibility of re-opening the five routes would be considered when the airline becomes competitive again.
